UPDATE: I just updated the chart with the 1039.47 line.
Here's the count for the AM. So far it looks like we have a 4-1 overlap, which invalidates the minute iv alternate count. 1080 so far is looking like the top.
Price is riding the lower P2 trendline on a subminuette/micro wave iv of subminuette/minuette wave iii. Wave v should break below it.
Still watching for a break of 1039.47 to further confirm that we are in a trend reversal.
Any thoughts on how long it may take to break the line? Seems to me like the longer it takes, the more likely it could tunr up again.
ReplyDeleteOf course I am just going from past observations, not any true TA.
mss,
ReplyDeletewe may not see it break thru today.
there are 2 things i see potentially.
1.
-take the 1080.15 high to 1041.17 low = a wave 1 (won't talk degrees here quite yet.
- wave 2 from 1041.17 to yesterday's 1069.62 high
- today is the beginning of wave 3 down. it may only be the first wave of smaller degree for this larger wave 3 down.
2. within this first wave of the larger 3 down, i'm seeing a potential 1-2 1-2 wave formation. if this is correct, this would lead to a 3 of 3 down which would break thru the trendline.
if the above is correct, this will take thru today to play out and tomorrow, and maybe fri.
mss,
ReplyDeletesorry. it's possible the 3 of 3 could come today.
Thanks for the response. Just trying to get better about timing. Apparently I jumped into SRS a little early today.
ReplyDeleteBy the way, I have a day job and can only check in periodically, so sometimes it may take a while before I get back on here.
mss
ReplyDeletei have a day job as well so my responses and counts are sporadic, especially lately! GL!